Tata Motors falls on disappointing global sales

The global wholesale vehicle sales fell 15% YoY at 81,783 units in May 2013.

Tata Motors is trading lower by 2% at Rs 292 after reporting 15% year-on-year (yoy) fall in global wholesale vehicle sales at 81,783 units in May 2013 led by the poor domestic performance in the passenger vehicle and medium and heavy commercial vehicle segments.

While, global commercial vehicle sales posted a decline of 14.2% yoy; global passenger vehicle volumes fell by 15.5% yoy.

For the month of May 2013, Jaguar and Land Rover (JLR) recorded better-than-expected growth of 3.7% yoy to 31,210 units driven by continued momentum in the recently launched models.

The stock opened at Rs 297 and hit a low of Rs 291 on NSE. A combined 2.43 million shares have changed hands on the counter so far on NSE and BSE.